LED Medical Expands Product Line to Include Rapid Growth 3D Printing Solution Category
VANCOUVER, BC--(August 04, 2015) - LED Medical Diagnostics Inc. (LMD:CA) (LEDIF) (FRANKFURT: LME) ("LED Medical" or "the Company") announced today that it has entered into a distribution agreement with 3D printer manufacturer EnvisionTec Inc., becoming a provider of EnvisionTec's 3D printing solutions to dentists, dental specialists and dental laboratories across the United States and Canada.
According to a report published by SmarTech in May ('3D Printing in Dentistry 2015: A Ten Year Opportunity Forecast and Analysis'), the forecasted value of hardware, materials, and printed components enabled by 3D printing in dentistry is expected to hit $3.1 billion by 2020, crossing $2 billion next year. They also note that total sales of 3D printing systems to dental labs or professionals, which is currently at $240 million, will double by 2020.
"We are very committed to 3D imaging technologies and offering a complete dental CAD/CAM workflow," stated LED Medical CEO, Dr. David Gane. "EnvisionTec provides world-class solutions that are complementary to our current product portfolio and the print media will be an additional source of recurring revenue."
EnvisionTec is a world leader in 3D printer manufacturing with applications across multiple industries, including oral healthcare. The solutions built by EnvisionTec are optimized for a number of specialized printing materials with a broad portfolio of dental applications. EnvisionTec printers integrate seamlessly with leading dental and dental specialty CAD software programs taking the efficiencies of digital design to the production stage allowing clinicians and technicians to rapidly produce crowns, bridges, models, surgical guides and a range of orthodontic appliances in just a few clicks.
"3D printers have tremendous utility for dental offices and dental laboratories as a growing number of offices adopt digital CAD/CAM workflows to create efficiencies and reduce lab-related expenses," stated Dr. David Gane, LED Medical CEO. "EnvisionTec's dental printers are ideal due to their small footprint, competitive price point and wide range of print material options."
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Burnaby, British Columbia, Canada, LED Medical Diagnostics Inc., through its wholly-owned subsidiaries LED Dental Inc. and LED Dental Ltd, provide dentists and oral health specialists with advanced diagnostic imaging products and software, in addition to the award-winning VELscope® Vx tissue fluorescence visualization technology. Backed by an experienced leadership team and dedicated to a higher level of service and support, LED Dental is committed to providing dental practitioners with the best technology available by identifying and adding leading products to its growing portfolio.
The Company is currently listed on the TSX Venture Exchange (TSX-V) under the symbol "LMD", the OTCQX under the symbol "LEDIF", as well as the Frankfurt Stock Exchange under the symbol "LME". For more information, call 844.952.7327 or visit www.leddental.com/investor-relations.
EnvisionTEC is a leading global provider of professional grade 3D printing solutions for the rapid manufacture of customized products utilizing its proprietary consumables across a variety of end markets. Since its first patent submission in 1999, EnvisionTEC has developed and released solutions for desktop applications up to large-scale enterprises and manufacturers. EnvisionTEC's platform provides organizations of any size the capability to rapidly manufacture true to life and functional duplications of any CAD rendering. With nearly 18 U.S. and 91 foreign patents, EnvisionTEC works with a strong customer and partner base in jewelry, automotive, dental, medical, sporting goods, aerospace and consumer packaged goods. Please visit www.envisiontec.com for further details.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking statements or information include statements regarding, but not limited to the Company's future growth strategy, its distribution strategy and product offerings, potential expansion of the Company's technology to other medical applications or markets, or the potential introduction of new technologies by the Company. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Corporation's actual future results or performance may be materially different. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to competition risks, distributor risks, product development risks such as regulatory, design, intellectual property and other factors described in the Corporation's reports filed on SEDAR including its Annual Information Form and financial report for the year ended December 31, 2014. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
LED Medical Diagnostics
David Gane, CEO
Phone: 604-434-4614 x227